foreign exchange loss

  1. Depreciating Naira Drags PZ Cussons Nigeria into First Loss Since 2020

    Nigeria Depreciating Naira Drags PZ Cussons Nigeria into First Loss Since 2020

    PZ Cussons Nigeria reported its first annual loss since 2020, with a N76 billion deficit for the year ending May 2024. The loss was driven by a 3,000% surge in foreign exchange losses due to naira depreciation, significantly impacting the company's financial stability and increasing liabilities...
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